Tether Bolsters Whop with $200M Investment
Tether, the company behind the world's largest stablecoin USDT, has invested $200 million in Whop, an online marketplace for digital products. The deal values Whop at $1.6 billion.
Whop allows creators to sell access to software, trading communities, and other digital goods to its 18.4 million users across 144 countries. Last year, the platform facilitated $3 billion in annual payouts, with a monthly growth rate of around 25%.
The investment will enable Whop to integrate Tether's Wallet Development Kit (WDK), allowing users and creators to hold and transact in USDT and Tether's new U.S.-focused digital dollar, $USAT. This integration is also expected to introduce lending and borrowing tools through decentralized finance infrastructure.
Tether CEO Paolo Ardoino said the partnership will provide faster global payments and more reliable financial tools for Whop users, with a focus on financial inclusion in markets where traditional payment systems are slower or more costly.